Avoid Payment Bond Claims With These Six Tips
Payment bond claims are one of the most common, costliest and potentially most disruptive actions that can be brought against a contractor.
Risk Management
The World of Wrap-Ups and How Contractors Can Benefit
Before considering wrap-up insurance on a project, ask about benefits and risks, clarify misconceptions and know the keys to a successful wrap-up.
Captive Insurance: A Viable Strategy to Reduce Costs
Captives can save money, but contractors need to be aware of compliance and funding requirements, and IRS regulations. Consider costs, risks and benefits to ensure that a establishing a captive is a viable strategy.
Firming in the Construction Insurance Market
As the insurance sector starts to firm, contractors can address risk factors with strong risk controls to prevent and mitigate risk.
The Dangers of Design Delegation: Identifying and Avoiding or Shifting the Risk
When project owners delegate design responsibilities to contractors, it creates significant risk. Contractors must understand and know how to shift risk to insurers, subcontractors and design consultants.
Achieve the Best Possible Coverage Rates and Terms With Comprehensive Risk Profiles
Managing growth with a balanced view of a firm’s own talent and core service structure helps a best-in-class contractor avoid professional liability claims.
Precautions for Minimized Risk Exposure and Maximized Loss Recovery
With the implementation of prudent accounting practices, contractors can reduce the likelihood of adverse litigation and can maximize recovery in the event of economic loss.
2019 Market Update Profiles Construction Industry Liability Trends and Challenges
A 2019 Market Update report predicts a stable commercial insurance market but foresees a rise in the frequency and severity of claims, especially within the hospitality, habitational, health care and energy sectors.
